A Question from a Client

by | Mar 19, 2020 | WWC WorthWhile Reading

The NYSE will temporarily close its historic trading floor March 23rd in response to positive coronavirus tests. It will move fully to electronic trading.
So what does this really mean? Is it the next step before the final crash?!

Truthfully, the closing of the exchange floor is almost meaningless since, at his point, “the floor” is symbolic; conducting only a tiny fraction of actual exchange activity. Almost all trading is done electronically. It means something to media outlets, because it’s a great place with much traditional significance from which to broadcast. Lois once did an interview from the rafters of the floor where the media outlets broadcast and it was really, really cool to be there with her for this reason! People really like to see the action since “the market'” is all reflected in this venue. Even though it dazzles us with all the boards and visuals, almost nothing is actually being done by floor traders there anymore.

~David Maurice CFP® CIO & VP
WorthWhile Wealth Council